Electric Utility’s debt jumps to US$522.9M in just 30 days

Santo Domingo.- The debt owned by Dominican Republic’s State-owned Electric Utility (CDEEE) and distributors (EDES) to the power companies is relentless, jumping RD$13.7 million, from US$508.9 million to US$ 522.9 million just in the last 30 days

The figures augur a precarious December, a month when the Government authorizes the supply of more energy to users, regardless of whether they pay or not.

EDES’ losses are estimated at 38%. From an average monthly billing exceeding US$185 million, they collect only US$110 million, a loss of more than US$70 million.

The Dominican Electricity Industry Association’s (ADIE) report reveals an increase of the unexpired bill, and signals what’s to come regarding the debt in the coming weeks.

The outstanding debt from October 22 to 26 was US$92.8 million, but it’s now US$173.9 million.

Among the CDEEE’s leading creditors figure Ege-Haina, with US$225.6 million; AES, US$194.9 million and San Felipe, Puerto Plata, US$129.6 million.

CDEEE CEO Ruben Jimenez Bichara said the Government works to definitively resolve the electricity problem, but noted that all sectors must participate.